Mar 11, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Cable moves through 1.5000; sell orders, stops noted

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Cable up at 1.5005.  Talk of sell orders now lined up at 1.5020/30.  Overnight Sean tipped stops through 1.5030, 1.5040 and 1.5080.

BELGIUM: Belgium has opened books for re-opening of..

Posted:

BELGIUM: Belgium has opened books for re-opening of 5-year dollar denominated deal for $500mln. The issue is expected to be priced later today, added the source. This 5-year dollar issue -- 2.75% Mar 2015 -- was initially launched on Feb 26 for $1.0bln at MS +22bps.

UK inflation expectations for year ahead rise

Posted:

To 2.5% in February from 2.4% in November 2009, according to Bank of England survey. Cable extending rally to 1.5000 at writing. As mentioned earlier those US custodials can be lumpy. Meanwhile UK clearer reportedly selling the EUR/GBP cross, which is down slightly at .9100. Funnily enough there were reports yesterday of a ...

Devil “is in Vatican”

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I heard he lives in Scituate Massachusetts.

Euro zone recovery has begun, but likely to be uneven – ECB’s Mersch

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Risks are broadly balanced in a context  marked by persistent uncertainty ECB will continue progressive ending of exceptional support measures Abundant liquidity will be absorbed when the time is right

Cable steadies after brief early dip; notable buyer seen

Posted:

Cable sits at 1.4973.  Stood at 1.4780 when I got in about 3 1/2 hours ago. Dipped to around 1.4948 and has subsequently bounced back to 1.4975.   Talk in market US custody bank (custodial) has been buying. These entities can at times have rather large interest.

ECB: ECB said that banks deposited E107.3bln with it.

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ECB: ECB said that banks deposited E107.3bln with it overnight and banks borrowed E4.1bln at the marginal rate. ECB also added that Eurosystem has now purchased E107.3bln worth of covered bonds as of Mar 10.

SNB!!!!

Posted:

Right has that woken anyone up. Swiss National Bank is said to be sitting on the bid in EUR/CHF at 1.4610. I think I might go back to bed for a few hours kip. Boring, I should coco.

Russian CBank shifts floating rouble band boundary to 34.30 vs basket from 34.35

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After buying $700 mln.

Spain January house sales rise 2.1% y/y

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First rise in two years.

FRANCE DATA: 4Q private payrolls revised up to -0.1%.

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FRANCE DATA: 4Q private payrolls revised up to -0.1% q/q, -2.2% y/y vs -0.4% q/q, -2.4% y/y - Total 4Q non-farm/non-public payrolls -0.1% q/q, -1.8% y/y

FRANCE DATA: January central govt deficit E9.2 bln,..

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FRANCE DATA: January central govt deficit E9.2 bln, +E1.1 bln y/y - January govt outlays +23.3% y/y; revenues +12.0% y/y

If interest rates rise, our prospects plummet

Posted:

Fighting inflation used to be the touchstone of economic policy. But this dusty old orthodoxy must go.  Anatole Kaletsky in The Times.

Believe BOJ has sense of crisis – MOF’s Noda

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Closely watching BOJ's decision next week Want ot attend next week;s BOJ meeting if possible BOJ has sense of crisis about Japan's deflation Govt, BOJ share view Japan is in mild deflation. Both will do what they can to pull Japan out of deflation

BOJ and Government have been taking steps to turn price moves positive this year – FinMin Kan

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Focus on next weeks March 16/17  BOJ meet and possibility of further steps.

JAPAN: Comments from FinMin Kan………………….

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JAPAN: Comments from FinMin Kan -- BOJ and government have been taking steps to turn price moves positive this year.

We don’t have a broad credit crunch so far – German Econ Min

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But there are some credit difficulties, especially with larger medium-sized  companies We are ready for emergencies but banks should first provide more credit State will not take over the job of banks

China consumer inflation is major concern for year due to imported commodity prices – MOFCOM minister

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Chinese Commerce Minister Chen Deming says rising inflation, imported via global commodity prices, is China's major policy concern this year. The government has set a 3% inflation target for this year. Meanwhile central bank chief Zhou Xiaochuan says February's rise in inflation was in line with expectations.

GERMANY: 4Q hourly labour costs wda/sa -0.5% Q/Q,….

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GERMANY: 4Q hourly labour costs wda/sa -0.5% Q/Q, wda +1.6% y/y

Worries over Greece never far from surface

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Traders will have noted lead article in WSJ entitled  "High interest costs burden Greece." The story highlights the fact high interest rate costs Greece must pay to borrow money are threatening country's attempts to rein in it's budget deficit. Nothing new, but helps keep Greece on the frontburner. EUR/USD has slipped to 1.3632 ...
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